BC, data, economy, supply

Vancouver Realtors getting less hungry.

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112 Comments

RFM has posted an updated Vancouver Realtor Hunger Index for April 2015.

The index now stands at 37%.

As RFM says:

he VANCOUVER REALTOR HUNGER INDEX is the percent of realtors who earned no commission income for the stated month. For April 2015 the VRHI was 37%. How does this compare? The 18-year average for April is 41%. At 37%, the 2015 April VRHI was higher than 5 years, the same as one year and lower than 11 years since 1998. Sales outpacing listings? Prices strongly increasing? Consult the DSM-5 for a complete explanation! (The Diagnostic and Statistical Manual of Mental Disorders (DSM-5), published by the American Psychiatric Association, offers a common language and standard criteria for the classification of mental disorders.)

Details and comparison data for 18 years at: http://vancouverpeak.com/showthread.php?tid=64

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Stanley

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SmartMoney

I should also point out that apartment prices are diverging heavily in this last rally in detached homes not getting higher highs. In the past, real rallies are confirmed by advances in both apartments and attached.

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SmartMoney

An update on my Elliott Wave count for Vancouver Real Estate. This is most likely the most dangerous time to buy before a major correction. Do what you will, but I certainly won’t buy the top.

goo.gl/4j751i

Cheers,

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Bo Xilai

southseacompany, #107

The real estate party won’t end in Canada until the bond party does… just as long as employment doesn’t collapse.

– China has massive debts supported by worldwide low interest rates.
– Canadians have a “we can swing that payment” mentality with no thought of the total debt they are accumulating.
– Canadian banks know they can lend out boatloads of money risk-free just as long as CMHC insures the mortgage.

There will come a time when interest rates will rise… Maybe it’s now (hopefully).. Maybe its two years. All I know is that when it happens, the BOC will be powerless to stop it.

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trackback

[…] -CMHC: All is well in Vancouver -New Highrise to have ‘poor doors’  -Alberta impact on BC Real Estate? -Ontario condo market a risk to economy -US Mortgage rates rising – […]

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southseacompany

“Investors get stark reality check as global bond market comes unglued”, Financial Post http://business.financialpost.com/investing/investors-get-stark-reality-check-as-global-bond-market-comes-unglued “Bond prices everywhere in the developed world are falling and yields are spiking. ” “It is a surprising rout for bond investors, who have long heard warnings about how the era of record high prices was unsustainable, but continued to pour into bonds anyway. ” ““This is the beginning of a buyers’ strike for bonds,” said David Baskin, president of Baskin Wealth Management in Toronto. “You’re getting no capital gains on some of these things now, and people are starting to finally wake up to the absurdity of it.”” “A concerted effort by global central banks to buy trillions-of-dollars worth of bonds to fend off that economic weakness has also ensured strong demand and, therefore, high prices for global bonds.” “Analysts have been warning that the… Read more »

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southseacompany

Renting instead of buying;

“DontHave1Million vs 5 Kids 1 Condo: re-thinking housing in Vancouver”
“Adrian Crook says he’d rather rent and raise his 5 kids downtown than own a house in the suburbs”,
CBC News

http://www.cbc.ca/news/canada/british-columbia/donthave1million-vs-5-kids-1-condo-re-thinking-housing-in-vancouver-1.3064925

“”I’ve done the home ownership thing. I’ve had a million dollar house up in North Vancouver years past and it’s just more than I need and more than I want,” he told The Early Edition’s Rick Cluff.”

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southseacompany

Familiar news;
“Local real estate has ‘never seen this kind of activity'”, CBC News, Hamilton

http://www.cbc.ca/news/canada/hamilton/news/local-real-estate-has-never-seen-this-kind-of-activity-1.3063290

“It was a record-breaking April for the number of homes sold, as the booming real estate market in Hamilton and Burlington continues.”

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Shut It Down Already

vangrl, would you have signed such a petition when you were cashing out your condo I wonder? Of course not.

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George

By the way, Rich Coleman is the epitome of sleazy politician. He is absolute scum. The disturbing thing is he has been in office for a very long time. He was first elected in 1996 so he’s been an elected official on the public dole for almost 20 years. Even if, by some miracle, the NDP were to win the next election in BC, Coleman would still probably win his seat and be in opposition. He’s not at all qualified to be the Housing Minister given that his background is in policing.

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Shut It Down Already

At the current rate of increase extrapolated to July 1st I predict that total inventory by then will be 13500.

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George

Sounds like they’re going to destroy the Sinclair Centre next. Do we really need to add 29 storeys of density on top of one of Vancouver’s most important historic buildings?

http://www.vancouversun.com/news/metro/City+Vancouver+considering+massive+redevelopment+historic/11038612/story.html

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West Coast Woman

Bo Xilai @60

Thank you!

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YLTNboomerang

@Fookem 88 and PaulB:

This just reaks of laundering dirty money to me. buyer has clean cash, in cahoots with seller who has dirty cash.

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What happens

Paul anyone. … what happens when there are multiple offers ….what does the listing agent do with the loser bids? Like are agent’s required to remain secret about them? Or do they track names and bids in a database within the firm ie Remax? Thanks in advance

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Best place on meth

“B.C. Housing Minister Rich Coleman dismissed the idea of provincial intervention, however, arguing it would be unfair to people who have already invested in housing, including locals.”

Locals like himself.

Rich Coleman – Baby Boomer

“I got mine, screw the rest of you”.

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Endthissickness

Vancouver RE has become a sick game

I was sent a listing by my Realtor and so there was full disclosure he co[pied me what the selling Realtor had put on the sheet for them

Assignment of contract. No showings. Completion July 2015. $5000 selling BONUS only if buyer pays full/over listing price. Price including 1 parking/1 locker and hardwood flooring ugrade. Best unit w/110 sq ft terrace facing south/courtyard. All townhomes sold out.

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Wearehere

Rich Coleman – what garbage!!

It is the people of BC that are being priced out by this RE hoarding.

All you have to say, well good for those who already got in!

Is that how low our leadership has become . No vision. No concern over the future.
Forget that almost no local can buy in Van West, Coal Harbour, West Van, Richmond … and soon North van and East Van!!

Do you really not care about the local tax payers that pay your wages.

You are a stupid fool and deserve to be kicked out at the next election.

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flaneur

@#85,

“One-third of Vancouver House units scooped up by foreign buyers
Thursday, May 7, 2015 6:26PM PDT

B.C. Housing Minister Rich Coleman dismissed the idea of provincial intervention, however, arguing it would be unfair to people who have already invested in housing, including locals.

“The real estate economy has been a free market economy for decades and people have made significant investments based on that,” Coleman said.

“And to go out and decide that we’re going to put those investments at risk for British Columbians and folks that own property in B.C. doesn’t make a lot of sense to me.””

http://bc.ctvnews.ca/one-third-of-vancouver-house-units-scooped-up-by-foreign-buyers-1.2364478

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patriotz

@90: “Would they not be the ones that could bring our concerns to the Federal Government?”

Are you seriously suggesting that the Federal Government (whether Harper, or Mulcair or Trudeau) is going to pick a fight with every provincial government (of whatever party) over control of RE ownership, because some people in Vancouver are upset? They are not going to go near it.

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patriotz

@89: “Letting elected officials know that a huge number of voters are pissed as hell is not a waste of time.”

In BC, a huge number of voters are always “pissed as hell”. Wasn’t Christy supposed be a a goner in 2013? Do you think she is going to pay any attention at all to some people upset about high RE prices? FYI when Christy was campaigning in that byelection in the Okanagan, she actually came out and said she wanted to buy a house there because she was sure prices were going back up.

Talk is cheap, action isn’t. Take your pick.

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paulb

I saw that one today too fookem. Listed way under market(intentionally or not).

New Listings 234
Price Changes 70
Sold Listings 209
TI:13162

http://www.paulboenisch.com

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vangrl

#86

Would they not be the ones that could bring our concerns to the Federal Government?

I think if it gained traction and the news picked it up, at the very least they’d have to publicly talk about it?

Are they not supposed to be working for the citizens of B.C, Vancouver etc…?

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StupidityCheck

@86: Letting elected officials know that a huge number of voters are pissed as hell is not a waste of time.

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fookem

A Chinese realtor ‘double ended’ a sale in West Van for $900k over asking.

How the fuck does that make sense??????????

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